Lundin Petroleum AB (Lundin Petroleum) through its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has received approval from the Norwegian Ministry of Petroleum and Energy of the Plan for Development and Operation (PDO) for the Bøyla field in PL 340, in the Norwegian North Sea.
First production from Bøyla is expected in the fourth quarter 2014.
The Bøyla field is located approximately 28 km south of the Alvheim field, operated by Marathon Oil. The development solution selected for the Bøyla field is a subsea tie-back to the Alvheim floating production, storage and offloading (FPSO) vessel.
The estimated gross reserves are approximately 21 million barrels of oil equivalent with gross peak production of 19,000 boepd.
Lundin Petroleum has a 15 percent working interest in the Bøyla field. Partners are Marathon (operator) with 65 percent and Conoco Philips Skandinavia with 20 percent working interest.
Press Release, October 29, 2012